Solana Sees Its Stablecoin Supply Jump By 73% Thanks To TRUMP!
The Solana blockchain has recently experienced a significant increase in its supply of stablecoins, reaching a new all-time high. According to a recent report published on January 30, 2025, the total supply of stablecoins on Solana now stands at $11.1 billion, an increase of 112% since January 1, 2025. An explosive performance achieved thanks to the launch of the memecoin $Trump.
TRUMP makes the supply of stablecoins on Solana explode!
The Solana blockchain has recently recorded a 73% increase in its supply of stablecoins, reaching $11.1 billion, following the launch of the memecoin $Trump on January 18, 2025. The launch of this memecoin led to a significant increase in activity on the network, with over 200,000 new users joining the blockchain.
As a result, Solana has surpassed the BNB Chain to become the third-largest blockchain network in terms of stablecoin supply, behind Ethereum and Tron. Circle’s USD Coin (USDC) dominates the stablecoin market on Solana, representing nearly 78% of the total supply, while Tether (USDT) holds about 12% market share.
The launch of the memecoin $Trump also had a notable impact on trading volumes on decentralized exchanges (DEX) on Solana. According to CoinGecko, trading volume on DEX reached a record $12.9 billion in 24 hours following the launch of TRUMP.
Challenges to Overcome
This series of events highlights Solana’s ability to attract new users and increase its supply of stablecoins through innovative initiatives and growing adoption. However, this influx has also caused network congestion due to the high volume of transactions. Thus raising the challenges to address in terms of network congestion and maintaining stability in the face of increased demand.
The rise in stablecoin supply on Solana, driven by the launch of the TRUMP memecoin, therefore reflects a positive dynamic for the network. However, it will be crucial for Solana to continue improving its infrastructure to effectively manage this growth and meet the needs of its expanding user base.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.